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Banque Internationale à Luxembourg (BIL) has decided to further strengthen its partnership with post-trade services provider Clearstream. Going forward, Clearstream, which is part of Deutsche Börse Group, will support the bank in streamlining its third-party fund processing activities. The scope of services includes order execution, settlement and asset servicing of both mutual and hedge funds.

Yves Baguet, Chief Operating Officer at BIL, said: “Clearstream’s commitment to the investment fund industry was the key driver to become a user of Vestima. The long-standing experience in bringing efficiencies to the market will help us further industrialise order flow.”

Philippe Seyll, Co-CEO and Head of Investment Fund Services, Clearstream, said: “We welcome the decision of BIL to rely on Vestima. Providing operational efficiency to our partners is part of our DNA and we are looking forward to our future cooperation.”

About Banque Internationale à LuxembourgFounded in 1856, Banque Internationale à Luxembourg (BIL) is the oldest multi-business bank in the Grand Duchy. It has always played an active role in the main stages of development of the Luxembourg economy. It currently operates in retail, private and corporate banking, as well as on financial markets. Employing more than 2,000 people, BIL is present in the financial centres of Luxembourg, Switzerland (since 1984), Denmark (since 2000) and the Middle East (since 2005).www.bil.com

About ClearstreamAs an international central securities depository (ICSD) headquartered in Luxembourg, Clearstream provides the post-trade infrastructure for the Eurobond market and services for securities from 56 domestic markets worldwide. With 13 trillion Euros in assets under custody, Clearstream is one of the world’s largest settlement and custody firms for domestic and international securities. Alongside its highly automated mutual fund services, Clearstream provides clients with a “one-stop shop” solution for all fund types.